With the price of the yellow metal continuing to fluctuate and the most popular 21-caliber record of 1140 pounds per gramme, gold prices in Egypt are rising at the start of trading today after increasing yesterday.
24 carat’s cost per gramme steadied at 1302.75 pounds.
At 1140 pounds per gramme today, the price of 21-carat gold found stability.
Today, the cost of 18-karat gold remained stable at 977.25 pounds per gramme.
The price of the gold pound stabilized today at 9120 pounds.
With the dollar weakening and US Treasury bonds making a comeback, gold prices increased to their highest levels in two weeks amid expectations that the Federal Reserve (the US Central Bank) will scale down its programme of raising interest rates beginning in December.
By 1740 GMT, the price of gold in instant transactions rose 0.8% to $166.09 per ounce, having reached its highest level since October 13.
US gold futures gained by 0.7% to $ 1669.20 per ounce at settlement.
Gold became more affordable for other currencies as the dollar’s losses versus its rivals grew to their lowest point in more than a month.
The US Treasury’s revenue has dropped steadily for ten years, reaching its lowest point in a week.
Interest rate increases of 75 basis points from the Federal Reserve are still largely anticipated for November.
High American interest rates have a significant impact on the price of gold because they make it more expensive to own the precious metal in a way that does not guarantee a set return.
The US gross domestic product data, slated to be released on Thursday, and the US basic inflation data, set to be released on Friday, will now be the main focus because they can paint a clearer image of the Federal Federal Reserve Rusty Road.
The Thursday meeting of the European Central Bank is also receiving notice.
Regarding the price of other precious minerals, platinum increased by 3.8% to $949.54 per ounce, palladium increased by 1% to 1942.75 dollars, and silver increased by 0.86 percent to $ 19.51 per ounce.
Gold prices in Egypt today, Thursday, 10-27-2022 .. Yellow metal is still increasing.
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